Yueqi Yang

The regional firm pulled its latest hires from Wells Fargo and Merrill Lynch.

Morgan Stanley alone lost 11 teams managing about $7 billion after its abrupt exit from the protocol pact, according to recent hiring announcements.

The funds will classify stocks using artificial intelligence.

They will incorporate trade data from as far back as 2014.

The group is the second team to join the Tucson branch in two weeks.

The duo is part of an ongoing exodus of wirehouse advisors to smaller regional firms and independent brokerages

AdvicePay from Alan Moore and Michael Kitces is aimed at streamlining payments to advisors.

After announcing it would exit the Broker Protocol, Morgan Stanley lost advisors managing approximately $7 billion in client assets.

The firm has $1.9 billion invested in companies that back regimes in Sudan, Syria and Myanmar, according to a non-profit group.

The wirehouses have lost teams overseeing more than $12 billion in client assets over the past month, according to recent hiring announcements.